Earlier today, TechCrunch music technology expert Josh Constine talked with Amazon Music Vice President Steve Boom in a wide-ranging 20 minute interview at New York City’s Pier 36 in downtown Manhattan. Watch above, courtesy of TechCrunch.
Boom comes off as optimistic about growing the business revenue, and pushed hard on the benefit of using the service with Alexa and Echo hardware. Throughout the conversation, one of the common threads seemed to be the technology play with voice recognition.
Amazon’s Prime Music streaming music service has three tiers, priced from $3.99 to $7.99 per month. While it is cheaper than subscriptions to Spotify, Tidal, and Apple Music, it has a more limited selection. While Constine pushed Boom on what’s happening said he didn’t want to give a report card on his competitors, he did acknowledge that established companies have been struggling to earn a profit and shared his belief that there would be consolidation.
Boom said that Amazon had reached 100 million paying subscribers, which would be an impressive number of at least $400 million for a service that only launched seven months ago, in October of 2016. According to Amazon’s 2016 Annual Report, the company had $6.4 billion in annual “Subscription” revenue which includes Amazon Prime membership, e-books, digital video, digital music, and other subscription services.
Other hot topics discussed had to do with exclusive releases, creating content, and of course… disrupting the status quo.
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